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International Spillovers of Macroeconomic Shocks

International Spillovers of Macroeconomic Shocks »

Source: International Spillovers of Macroeconomic Shocks : A Quantitative Exploration

Volume/Issue: 2000/101

Series: IMF Working Papers

Author(s): Douglas Laxton , and Eswar Prasad

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 June 2000

ISBN: 9781451852509

Keywords: Macroeconomic shocks, international spillovers, nominal interest rate floor, macroeconometric simulations, inflation, nominal interest rates, nominal interest rate, monetary policy, unemployment rate

This paper provides a quantitative exploration of international spillovers of macroeconomic shocks among the major industrial economies. The particular topical example analyzed here concerns the possible effects on...

Wage Contracts, Capital Mobility, and Macroeconomic Policy

Wage Contracts, Capital Mobility, and Macroeconomic Policy »

Source: Wage Contracts, Capital Mobility, and Macroeconomic Policy

Volume/Issue: 1995/10

Series: IMF Working Papers

Author(s): Pierre-Richard Agénor

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 January 1995

ISBN: 9781451842647

Keywords: wage, export sector, transactions costs, nominal interest rate

This paper examines the long-run effects of macroeconomic policy shocks on the behavior of output, inflation, real wages and the real exchange rate in a small open economy. The analysis is based on a two-sector, th...

Japan: Selected Issues

Japan: Selected Issues »

Source: Japan : Selected Issues

Volume/Issue: 2001/220

Series: IMF Staff Country Reports

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 13 December 2001

ISBN: 9781451820607

Keywords: inflation, monetary policy, nominal interest rates, interest rates, rate of inflation

The paper discusses the cures available for the economic malaise that can arise because nominal interest rates cannot be reduced below zero. However, a sufficiently high rate of target inflation can prevent the occ...

Japan: Selected Issues

Japan: Selected Issues »

Source: Japan : Selected Issues

Volume/Issue: 2001/220

Series: IMF Staff Country Reports

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 13 December 2001

ISBN: 9781451820607

Keywords: inflation, monetary policy, nominal interest rates, interest rates, rate of inflation

The paper discusses the cures available for the economic malaise that can arise because nominal interest rates cannot be reduced below zero. However, a sufficiently high rate of target inflation can prevent the occ...

Japan: Selected Issues

Japan: Selected Issues »

Source: Japan : Selected Issues

Volume/Issue: 2001/220

Series: IMF Staff Country Reports

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 13 December 2001

ISBN: 9781451820607

Keywords: inflation, monetary policy, nominal interest rates, interest rates, rate of inflation

The paper discusses the cures available for the economic malaise that can arise because nominal interest rates cannot be reduced below zero. However, a sufficiently high rate of target inflation can prevent the occ...

Japan: Selected Issues

Japan: Selected Issues »

Source: Japan : Selected Issues

Volume/Issue: 2001/220

Series: IMF Staff Country Reports

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 13 December 2001

ISBN: 9781451820607

Keywords: inflation, monetary policy, nominal interest rates, interest rates, rate of inflation

The paper discusses the cures available for the economic malaise that can arise because nominal interest rates cannot be reduced below zero. However, a sufficiently high rate of target inflation can prevent the occ...

Nominal Interest Rate Pegging Under Alternative Expectations Hypotheses

Nominal Interest Rate Pegging Under Alternative Expectations Hypotheses »

Source: Nominal Interest Rate Pegging Under Alternative Expectations Hypotheses

Volume/Issue: 1988/94

Series: IMF Working Papers

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 21 October 1988

ISBN: 9781451950618

Keywords: nominal interest rate, equation, inflation, price level, equations

Nominal interest rate pegging leads to instability in an IS-LM model with a vertical long-run Phillips curve and backward-looking inflation expectations. However, it does not lead to instability in several large mu...

How to Fight Deflation in a Liquidity Trap

How to Fight Deflation in a Liquidity Trap »

Source: How to Fight Deflation in a Liquidity Trap : Committing to Being Irresponsible

Volume/Issue: 2003/64

Series: IMF Working Papers

Author(s): Gauti Eggertsson

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 March 2003

ISBN: 9781451848588

Keywords: liquidity traps, zero bound on nominal interest rates, inflation, money supply, central bank, nominal interest rate, zero bound on nominal rates,

I model deflation, at zero nominal interest rate, in a microfounded general equilibrium model. I show that deflation can be analyzed as a credibility problem if the government has only one policy instrument, money...

Monetary Policy and the Lost Decade

Monetary Policy and the Lost Decade »

Source: Monetary Policy and the Lost Decade : Lessons from Japan

Volume/Issue: 2009/232

Series: IMF Working Papers

Author(s): Daniel Leigh

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 October 2009

ISBN: 9781451873795

Keywords: liquidity trap, Bayesian econometrics, inflation, inflation target, price level, nominal interest rates,

This paper investigates how monetary policy can help ward off a protracted deflationary slump when policy rates are near the zero bound by studying the experience of Japan during the "Lost Decade" which followed th...

Inflation and Public Debt Reversals in the G7 Countries1

Inflation and Public Debt Reversals in the G7 Countries1 »

Source: Inflation and Public Debt Reversals in the G7 Countries

Volume/Issue: 2014/96

Series: IMF Working Papers

Author(s): Bernardin Akitoby , Takuji Komatsuzaki , and Ariel Binder

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 10 June 2014

ISBN: 9781498369954

Keywords: debt drisis, G7, soverign debt, average inflation, nominal interest rates, real interest rates, increase in inflation, International Lending and Debt Problems,

This paper investigates the impact of low or high inflation on the public debt-to-GDP ratio in the G-7 countries. Our simulations suggest that if inflation were to fall to zero for five years, the average net debt-...